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2009 SESSION
098128548Be it enacted by the General Assembly of Virginia:
1. That § 58.1-3221.3 of the Code of Virginia is amended and reenacted as follows:
§ 58.1-3221.3. Classification of certain commercial and industrial real property and taxation of such property by certain localities included in the Northern Virginia Transportation Authority and the Hampton Roads Transportation Authority.
A. Beginning January 1, 2008, and solely for the purposes of imposing the tax authorized pursuant to this section, in the counties and cities that are embraced by the Northern Virginia Transportation Authority and the Hampton Roads Transportation Authority, all real property used for or zoned to permit commercial or industrial uses is hereby declared to be a separate class of real property for local taxation. Such classification of real property shall exclude all residential uses and all multifamily residential uses, including but not limited to single family residential units, cooperatives, condominiums, townhouses, apartments, or homes in a subdivision when leased on a unit by unit basis even though these units may be part of a larger building or parcel of real estate containing more than four residential units.
B. In addition to all other taxes and fees permitted by law,
(i) the governing body of any locality embraced by the Northern Virginia
Transportation Authority may, by ordinance, annually impose on all real
property in the locality specially classified in subsection A: an amount of
real property tax, in addition to such amount otherwise authorized by law, at a
rate not to exceed $0.25 $0.125 per $100 of assessed value as the
governing body may, by ordinance, impose upon the annual assessed value of all
real property used for or zoned to permit commercial or industrial uses; and
(ii) the governing body of any locality embraced by the Hampton Roads
Transportation Authority may, by ordinance, annually impose on all real
property in the locality specially classified in subsection A: an amount of
real property tax, in addition to such amount otherwise authorized by law, at a
rate not to exceed $0.10 per $100 of assessed value as the governing body may,
by ordinance, impose upon the annual assessed value of all real property used
for or zoned to permit commercial or industrial uses. The authority granted in
this subsection shall be subject to the following conditions:
(1) Upon appropriation, all revenues generated from the additional real property tax imposed shall be used exclusively for transportation purposes that benefit the locality imposing the tax; and
(2) The additional real property tax imposed shall be levied, administered, enforced, and collected in the same manner as set forth in Subtitle III of Title 58.1 for the levy, administration, enforcement, and collection of local taxes. In addition, the local assessor shall separately assess and set forth upon the locality's land book the fair market value of that portion of property that is defined as a separate class of real property for local taxation in accordance with the provisions of this section.
C. Beginning January 1, 2008, in lieu of the authority set forth in subsections A and B above and solely for the purposes of imposing the tax authorized pursuant to this section, in the counties and cities embraced by the Northern Virginia Transportation Authority and the Hampton Roads Transportation Authority, all real property used for or zoned to permit commercial or industrial uses is hereby declared to be a separate class of real property for local taxation. Such classification of real property shall exclude all residential uses and all multifamily residential uses, including but not limited to single family residential units, cooperatives, condominiums, townhouses, apartments, or homes in a subdivision when leased on a unit by unit basis even though these units may be part of a larger building or parcel of real estate containing more than four residential units.
D. In addition to all other taxes and fees permitted by law,
(i) the governing body of any locality embraced by the Northern Virginia
Transportation Authority may, by ordinance, create within its boundaries, one
or more special regional transportation tax districts and, thereafter, may, by
ordinance, impose upon the real property located in special regional
transportation tax districts specially classified in subsection C within such
special regional transportation tax districts: an amount of real property tax,
in addition to such amounts otherwise authorized by law, at a rate not to
exceed $0.25 $0.125 per $100 of assessed value as the governing
body may, by ordinance, impose upon the annual assessed value of all real
property used for or zoned to permit commercial or industrial uses; and, (ii)
the governing body of any locality embraced by the Hampton Roads Transportation
Authority may, by ordinance, create within its boundaries, one or more special
regional transportation tax districts and, thereafter, may, by ordinance,
impose upon the real property specially classified in subsection C within such
special regional transportation tax districts: an amount of real property tax,
in addition to such amounts otherwise authorized by law, at a rate not to
exceed $0.10 per $100 of assessed value as the governing body may, by
ordinance, impose upon the annual assessed value of all real property used for
or zoned to permit commercial or industrial uses. The authority granted in this
subsection shall be subject to the following conditions:
(1) Notwithstanding any other provisions of law to the contrary, upon appropriation, all revenues generated from the additional real property taxes imposed in accordance with subsection C and this subsection shall be used for transportation purposes that benefit the special regional transportation tax district to which such revenue is attributable;
(2) Any local ordinance adopted in accordance with the provisions of subsection C and this subsection shall include the requirement that the additional real property taxes so authorized are to be imposed annually in accordance with applicable law;
(3) Any locality that imposes the additional real property taxes set forth in subsections A and B shall not be permitted to also impose the additional real property taxes set forth in subsection C and this subsection. In addition, any locality electing to impose the additional real property taxes on all real property located in such locality that is specially classified in subsections A and B must do so in the manner prescribed in subsections A and B and not by creation of a special transportation tax district as set forth in subsection C and this subsection. The creation of such special regional transportation tax districts shall not, however, affect the authority of a locality to establish tax districts pursuant to other provisions of law;
(4) The total revenues generated from the additional real
property taxes imposed in accordance with subsection C and this subsection
shall not be less than 85% of the revenues estimated to be generated when
imposing the additional real property taxes in accordance with subsections A
and B at the rate of $0.25 $0.125 per $100 of assessed value in
any locality embraced by the Northern Virginia Transportation Authority and at
the rate of $0.10 per $100 of assessed value in any locality embraced by the
Hampton Roads Transportation Authority; and
(5) The additional real property taxes imposed pursuant to subsection C and this subsection shall be levied, administered, enforced, and collected, in the same manner as set forth in Subtitle III of Title 58.1 for the levy, administration, enforcement, and collection of all local taxes. In addition, the local assessor shall separately assess and set forth upon the locality's land book the fair market value of that portion of property that is defined as separate class of real property for local taxation in accordance with the provisions of this section.
[ 2. That the provisions of this act shall expire on June 30, 2014. ]